Listing ID: 83936
Business Overview
As the population grays and lives longer, the demand for elderly care has become a priority. According to the US Census Bureau, the number of older adults will continue to grow faster than any other age segment. As numbers grow, families require help caring for their unique needs. Elderly have resisted entering institutions which means adult day services are poised perfectly to assist the elderly as they continue to live at home. According to Entrepreneur magazine, adult day service is one of the Top 10 fastest-growing businesses.
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Today’s monthly nursing home costs is $10,000 and assisted living is $5,000. Adult Day care is the only affordable option outside of the home. Providing transportation, meals, bathing, social activities allow seniors to thrive and continue living in their communities. Adult Day Care is a rewarding career, perfect for the individual looking to make a difference in people’s lives. Due to an illness, owner is reluctant, but willing to sell this rapidly growing business for a fraction of the cost.
Financial
- Asking Price: $400,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: Yes
- Established: 2008
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:22
- Furniture, Fixtures and Equipment:N/A
Two locations in very desirable areas with convenient access to everything Kent County has to offer. Built out specifically for adult day care these spaces have all the required as well as desired amenities.
Seller will provide training to help the purchaser take over providing a smooth transition while learning the business and its operating activities, gaining an understanding of the clients and community partners.
Unfortunate family illness. Otherwise, the owners are enthusiastic about the biz
Recent changes in the local market have reduced competition. In the past elderly were cared for in family homes. This is becoming less common as families spread out and are burdened with other commitments.
Rapidly increasing population of potential clients, reduction of other options in the community and the development of additional assistance programs are fueling industry wide growth.
Additional Info
The company was founded in 2008, making the business 14 years old.
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals resolve to sell companies. Nevertheless, the real factor vs the one they tell you may be 2 absolutely different things. For instance, they may say "I have a lot of various responsibilities" or "I am retiring". For many sellers, these factors are valid. But also, for some, these may simply be reasons to attempt to conceal the reality of altering demographics, increased competitors, current reduction in earnings, or a range of other factors. This is why it is very essential that you not depend absolutely on a vendor's word, however instead, use the vendor's solution in conjunction with your overall due diligence. This will paint an extra practical image of the business's current scenario.
Existing Debts and Future Obligations
If the existing business is in debt, which numerous companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Lots of businesses take out loans with the purpose of covering items such as stock, payroll, accounts payable, and so on. Remember that sometimes this can indicate that profit margins are too tight. Numerous organisations fall under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may additionally be future obligations to think about. There may be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with vendors that must be met or may cause charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the location attract brand-new customers? Many times, operating businesses have repeat clients, which form the core of their everyday revenues. Specific elements such as brand-new competition sprouting up around the area, roadway construction, and employee turnover can influence repeat customers and also negatively affect future revenues. One crucial point to take into consideration is the placement of the business. Is it in an extremely trafficked shopping center, or is it hidden from the main road? Obviously, the more people that see the business often, the higher the opportunity to construct a returning client base. A final thought is the general area demographics. Is the business located in a largely inhabited city, or is it situated on the outside border of town? Just how might the neighborhood average house earnings effect future revenue potential?
